US home sales fell 3.4 percent in September

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WASHINGTON

Oct 22, 2018-

US home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy. The National Association of Realtors said Friday that sales declined 3.4 percent last month, the biggest drop in 2-and-a-half years, to a seasonally adjusted annual rate of 5.15 million. That’s the lowest sales pace since November 2015. Hurricane Florence dragged sales in North Carolina, but even excluding the storm’s effects, sales would have fallen more than 2 percent, the NAR said. Sales of existing homes have declined steadily in 2018 amid rapid price increases, higher mortgage rates and a tight supply of available houses. (AP)

Published: 22-10-2018 08:17

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